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The Making of a Good Society: Lowe’s Instrumental Method and the Pursuit of Full Employment

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  • Murray, Michael/ M J

Abstract

The article discusses the incompatibility of promoting individual interests of capitalists and workers with the promotion of macroeconomic goals of society. The article implements the ``instrumental method'' developed by Adolph Lowe, and articulates the separation of microeconomic goals with macroeconomic objectives. Using full employment as a case study, the article articulates the proper role for government in achieving and maintaining full employment in a capitalist society. Further it is seen that such an approach also promotes the self interests of capitalists. The approach taken in this article offers an alternative to the failed policies of neoliberalism.

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File URL: http://mpra.ub.uni-muenchen.de/39570/
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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 39570.

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Date of creation: 14 Feb 2011
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Handle: RePEc:pra:mprapa:39570

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Related research

Keywords: Instrumentalism; instrumental inference; neoliberalism; F.A. Hayek; Adolph Lowe; full employment; unemployment; employer of last resort;

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  1. Parada, Jairo, 2008. "Post-Keynesian Theory of Business Enterprise and the Veblenian´s Approach: Are there commonalities?," MPRA Paper 16768, University Library of Munich, Germany, revised 10 Jul 2008.
  2. Mark Granovetter, 2005. "The Impact of Social Structure on Economic Outcomes," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 33-50, Winter.
  3. Barnes, Carole Wolff & Kingsnorth, Rodney, 1996. "Race, drug, and criminal sentencing: Hidden effects of the criminal law," Journal of Criminal Justice, Elsevier, vol. 24(1), pages 39-55.
  4. Arestis, Philip, 1996. "Post-Keynesian Economics: Towards Coherence," Cambridge Journal of Economics, Oxford University Press, vol. 20(1), pages 111-35, January.
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